OSLO, April 24 (Reuters) - Norwegian drug maker PCI Biotech has seen promising results from its bile duct cancer study ahead of a key second phase, but will need extra capital or a partnership to finalise a treatment, its chief executive told Reuters.
Developing the fimaCHEM platform, combining light-based, photochemical technology with its fimaporfin drug, PCI seeks to treat patients who have inoperable tumours.
“We are currently in an extension of phase one, scheduled to be finished in the second half of 2018, and then we are ready to start the pivotal phase two almost immediately,” Chief Executive Per Walday said in an interview at the company’s headquarters.
“Data from the first phase looks promising, and we know that strong results may allow for accelerated conditional approval from an interim analysis. We strongly believe in this, but we only have results from a few patients so far, so there are no guarantees,” he added.
PCI’s cash position covers preparations for the second phase, but the company will need either a partnership or to raise money in a share issue to finish the work, it said. (Reporting by Camilla Knudsen, editing by Terje Solsvik)